Technical Analyst Gautam Shah of JM Financial said, “I think there is further upside in midcap stocks because on a day to day basis you have the smallcaps and midcaps breaking out.”

Shah told CNBC-TV18, “The indices may move up a few percentage points on a daily basis and a few largcaps might move up 4-5%, you have seen so many midcap stocks move up anywhere between 10-60% in the last 6-8 trading sessions, so obviously you want to stick to the quality midcaps and I think there is further upside because on a day to day basis you have the smallcaps and midcaps breaking out.”

He further added, “The idea is not to pick up the stock that has already moved up 2-3 times in the recent past but on a day-to-day basis you have so many stocks and sectors breaking out with a very good risk reward and some of the risk reward for some of the stocks is 1:3, 1:4. So there are opportunities and one could make the most of it. Having said that the largecaps have under performed in the last 6 days and therefore now they could make come back. A good example of that was what happened yesterday and I think in the next few days you could see some of the largecaps do well as well.”

source: Moneycontrol

Tags: Best Stocks, hot stocks, hot tips, Mid Caps, nse bse small stocks, nse bse stocks tips, share market idnia, small cap stocks

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